Despite its less-than-impressive performance, HP gave a bullish forecast for the current quarter saying it expects its adjusted diluted earnings per share to be in the range of $0.40 to $0.50.
For the past three months, HP reported revenue of $15.3 billion versus the expected $14.7 billion.
The Xerox-HP takeover bid has been suspended due to the COVID-19 situation. Yesterday, Hewlett-Packard (HPQ) stock lost around 3% and today it is falling in the pre-market.
With a massive funding commitment from a banking giant, Xerox is planning to take over HP which is three times its size.